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2023
Exports $365MWorld Rnk 23 / 127
Flag Rnk 4 / 494
falsefalse China
2022 - 2023
FASTEST GROWING MARKETfalseChina
2023
PRODUCT COMPLEXITY IN Iron Ore-1.87Rnk 987 / 1025
2023
Imports $173kWorld Rnk 0 / 0
Flag Rnk 0 / 0
2022 - 2023
FASTEST GROWING ORIGINfalsefalse
2023
ECONOMIC COMPLEXITY of Mongolia-1.32Rnk 123 / 132

About

Exports In 2023, Mongolia exported $365M in Iron Ore, making it the 23rd largest exporter of Iron Ore in the world. At the same year, Iron Ore was the 4th most exported product in Mongolia. The main destination of Iron Ore exports from Mongolia are: China ($365M) and South Africa ($436).

The fastest growing export markets for Iron Ore of Mongolia between 2022 and 2023 were China ($1.46M) and South Africa ($436).

Imports In 2021, Mongolia imported $173k in Iron Ore, becoming the 0th largest importer of Iron Ore in the world. At the same year, Iron Ore was the 0th most imported product in Mongolia. Mongolia imports Iron Ore primarily from: N/A.

Latest Trends

Dec 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Iron Ore. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$365M
IMPORTS (2021)$173k
NET TRADE (2023)$365M

In 2023, Mongolia exported $365M in Iron Ore. The main destinations of Mongolia exports on Iron Ore were China ($365M) and South Africa ($436).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Iron Ore EXPORT MARKETS FOR Mongolia WERE (2022 - 2023):
China$1.46M (0.4%)
South Africa$436 (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron Ore BY Mongolia WERE (2022 - 2023):Canada-$200 (-100%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Mongolia's main exporting competitors in Iron Ore were:
Australia $85.4B
Brazil $34B
Canada $7.23B
In 2023, Mongolia's main importing competitors in Iron Ore were:
China $112B
Japan $9.3B
South Korea $7.07B

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Trade Value of Iron Ore by Exporters

Potential Exports

Potential Exports

Flow
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TOP EXPORT POTENTIALChina+ $380M
TOP IMPORT POTENTIALAustralia+ $601

Iron Ore’s highest export potential is China. With an export gap of $380M.   Iron Ore’s highest import potential is Australia with an import gap of $601.

See methodology.

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